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A Study On The Relationship Between Listed Companies And Major Shareholders In The Transfer Of Fixed Interest

Posted on:2018-11-10Degree:MasterType:Thesis
Country:ChinaCandidate:Y L LinFull Text:PDF
GTID:2359330515991558Subject:Finance
Abstract/Summary:PDF Full Text Request
As a new financing way of China's capital market,private placement has been widely adopted by the capital market with its unique advantages since its introduction in 2006.Usually there is a fixed period of private placement,in the lock period it will not cause sharp fluctuations in the stock price,while listed companies can also take this opportunity to introduce strategic investors,improving the corporate governance structure.In addition,private placement can also solve the problem of lack of cash flow of listed companies.However,the private placement involves the interests of the company in the new shareholders and no additional redistribution between the original shareholders,and the equity of Listed Companies in China is relatively concentrated,the relevant legal private placement is not perfect,supervision,audit policy is not perfect,major shareholders can pay lower prices,input of non-performing assets and other means to achieve their own interests.Combing the relevant literature on the major shareholders in the transfer of benefits in the private placement,we analyse the private placement and transfer of benefits of private placement,the transfer of benefits mechanism,then we analyse the reasons cause placement,selecting the Deluxe Family as the case,we put forward some suggestions according to the price increase,several interests into inferior assets,the underlying assets overvalued the value of transportation:to improve corporate governance,improve the pricing mechanism,strengthen asset evaluation,strengthen supervision,standardize the information disclosure issue,investor protection mechanism and enhance their professional knowledge to solve the problem of the transfer of benefits.This paper mainly based on carding literature review,through the investigation and interviews,in-depth analysis by case analysis of large shareholders to transport problems,paper has certain inspiration and practical significance for the relevant regulatory authorities,the listed companies and investors.
Keywords/Search Tags:Major shareholders, Private placement, Benefit transfer
PDF Full Text Request
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